RBI to probe HDFC Bank Auto loan rigging

RBI has asked HDFC Bank to provide details of an internal investigation into allegations of improper lending practices in its vehicle-financing operation, according to people familiar with the matter.

The Reserve Bank of India is also seeking information on steps taken by HDFC Bank to remedy any issues identified during the investigation.

IPO ANALYSIS : ROSSARI BIOTECH LIMITED

Issue Details :

Issue opens / closes on	13-07/15-07-2020
Issue size	Fresh issue Rs 50 Cr plus  OFS of 1.05 cr shares
Face value	Rs 2
Price Band	Rs 423-425
Business	Speciality chemical manufacturers
Promoters	Edward Walter Menezes, Sunil Srinivasan Chari
Listing	Bse, Nse
BRLM	Axis Capital and ICICI Securities
Registrar	Link Intime

Await detailed analysis.

Vodafone's loss widens

Vodafone Idea's pre-tax loss rose 73 per cent to Rs 11,742 crore in the March quarter of 2019-20 owing to exceptional expenses.

The telecom firm had posted a pre-tax loss of Rs 6,758 crore in the same quarter last year.

While the firm’s revenue remained flat on a year-on-year basis, the loss widened due to Rs 6,140 crore worth of exceptional items, which included costs related to merger and integration, additional provisioning for depreciation and impairment, and one-time spectrum charges.